The FCA and the PRA jointly publish mortgage lending statistics every quarter; in September 2022, the lending statistics for Q2 2022 were published.
The FCA reports that since the beginning of 2007, around 340 regulated mortgage lenders and administrators have been required to submit a Mortgage Lending and Administration Return (MLAR) each quarter, providing data on their mortgage lending activities.
The proportion of mortgages advanced in 2022 Q2 with a loan to value ratios exceeding 90% was 4.5%, 2.4% higher than a year earlier and the highest since 2020 Q2.
The proportion of advances for house purchase for owner occupation was 52.4%, up 1.7% from the previous quarter, but down 14.0% from 2021 Q2. The share of gross advances for remortgages for owner occupation was 27.0%, an increase of 10.5% since 2021 Q2, but a decrease of 2.0% since 2022 Q1
The value of outstanding mortgage balances with arrears decreased by 0.7% over the quarter and 7.2% over the year, to £13.2 billion in 2022 Q2, and now accounts for 0.80% of outstanding mortgage balances, the lowest since recording began in 2007.
If you’d like to know more about how we can help you with your mortgage lending, arrears management, MLAR or FCA Consumer Duty arrangements, or any other regulatory compliance issues, our specialist team is here to help.
Contact us today on 0207 436 0630 – or email info@thistleinitiatives.co.uk.